Altcoin
Ethereum Price Set to Hit $4000 As “Mega” ETH Whales Buy the Dips
Ethereum whales have seized the massive opportunity to buy ETH as the price dropped near $3,000 on Monday. After yesterday’s strong selling pressure, Ethereum is showing signs of recovery jumping back above $3,200. Besides, Donald Trump’s DeFi project World Liberty Financial also joined the club to make fresh ETH buys earlier today while expanding its holdings.
Ethereum Price Rebounds on Accumulation by Mega Whales
Crypto analyst Ali Martinez reported a notable increase in Ethereum accumulation by mega whales over the past 24 hours. According to Martinez, 13 mega ETH whales—each holding more than 10,000 ETH—have joined the network. This development highlights significant accumulation activity, suggesting growing confidence among large-scale investors.
World Liberty Financial Accumulates More ETH
Donald Trump’s DeFi project World Liberty Financial buys Ethereum worth $10 million earlier today. This latest acquisition from this entity marks a broader buying spree over the past week. The fund has invested a total of $129.95 million to purchase 39,242 ETH at an average price of $3,312 per token.
With the latest purchase, the DeFi project’s total holdings have surged to 82,661 ETH which includes 19,408 ETH staked With Lido Finance, as per data from Spot On Chain.
Apart from ETH, Donald Trump’s DeFi project also holds other crypto assets like TRX, AAVE, LINK, ENA, and WBTC. Thus, it has gained exposure to some of the top assets with plans to expand in the DeFi space. The WLF wallet currently holds a total of $370.4 million in assets, spread across 44 different holdings. Blockchain analytics platform Santiment reported:
“WLF seems to be setting itself up as a key player in decentralized finance (DeFi). The venture’s behavior through this wallet correlates with Donald Trump’s promise to make the U.S. a global leader in cryptocurrency and blockchain innovation”.
Ethereum Price to $4,000 Soon?
Ethereum has been a major underperformer in comparison to its peer altcoins like XRP, Solana (SOL), Cardano (ADA), and others. Notably, Ethereum price has struggled to surge past $4,000 with multiple rejections. As of press time, the ETH price is trading 5% up at $3,201 levels.
Ethereum price is consolidating at a crucial support level, aligning with market expectations. Analysts are closely monitoring a developing head-and-shoulders (H&S) pattern above $4,000. However, ETH price first needs to break out from the current wedge formation potentially triggering the next upward rally. The recent buying from Ethereum whales could serve as a catalyst for ETH to rally ahead.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: